26th Feb 2025 17:16
(Alliance News) - Silver Bullet Data Services Group PLC on Wednesday said revenue increased in 2024, boosted by its 4D artificial intelligence product.
The London-based marketing services provider said in a trading update that revenue increased 13% to GBP9.4 million in 2024 from GBP8.3 million in the previous year.
Silver Bullet said revenue from its proprietary 4D AI product rose 25% to GBP3.5 million from GBP2.8 million in 2023.
The company said it has successfully integrated recent acquisition Codec AI ahead of budget, with new contract wins this year.
Silver Bullet said the "strong trading momentum" from the end of the year has continued into 2025.
It said it has already secured 2025 bookings in excess of GBP6.0 million, with more than GBP1.5 million for the 4D AI product.
It said global clients and US revenue account for 70% of the committed GBP6.0 million.
Chief Executive Officer Ian James said: "The group continues to deliver strong growth, with increased revenues, including a notable rise in bookings tied to 4D AI and high-margin data services.
"Partnerships with global giants like BMW AG and Visa Inc highlight the scalability and impact of our solutions, showcasing the talent and innovation driving our success. This growing demand solidifies our position as a trusted leader in digital transformation."
Silver Bullet shares closed up 3.7% at 53.90 pence in London on Wednesday afternoon.
By Michael Hennessey, Alliance News reporter
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